Inside Financial Markets
Explosion at Chemical Warehouse in Shandong Province – China

Explosion at Chemical Warehouse in Shandong Province – China

An explosion occurred at a chemical warehouse in Shandong province in eastern China on Saturday evening, the People’s Daily China reported. The site is only one kilometer from a residential area.

The explosion happened at 8:40pm local time (12:40pm GMT) at a factory run by Shandong’s Runxing Chemical Co., Xinhua reported citing an official Chinese newspaper, People’s Daily.

Chinese media report that nine people have been injured in Huantai County. No fatalities have been reported.

The plant in Shandong province produces around 300,000 tons of adiponitrile, TASS reported. According to local media reports, the toxic colorless liquid releases poisonous gases when it reacts with fire.

The fire has been localized, with some 150 firefighters battling the huge blaze, RIA Novosti reported citing local media.

The explosion was so strong that its blast wave was reportedly felt within a two-kilometer (one mile) radius. Windows in nearby houses shattered.

Local authorities have reportedly started evacuation of residents in the area near the blast site.
Last week, more than a hundred people were killed and some 700 injured in explosions at a warehouse storing hazardous chemicals in Tianjin port. Dozens are still missing and thousands of people were evacuated from the area, their homes having been either destroyed or deemed unsafe to return to.

Following the deadly incident in Tianjin in northeastern China, the country’s handling of the chemical blasts and the lack of information during such incidents have been criticized by a top UN expert.

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

The Canadian Securities Institute


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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)